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New Chairs of the FCA Practitioner Panel and Markets Practitioner Panel announced today

Press ReleasesPublished:
28/06/2019Last updated: 01/07/2019

The Financial Conduct Authority Chair, Charles Randell, has today announced the appointments of new Chairs for the FCA’s independent Practitioner Panel and Markets Practitioner Panel.

Practitioner Panel

Tulsi Naidu, Chief Executive of Zurich in the UK, becomes Chair of the FCA Practitioner Panel from 1 August 2019. She has been a member of the Panel since 2017 and succeeds Anne Richards, Chief Executive of Fidelity International.

Markets Practitioner Panel

Nikhil Rathi, Chief Executive Officer of London Stock Exchange plc, becomes Chair of the FCA Markets Practitioner Panel from 1 July 2019. He has been a member of the Panel since 2015 and succeeds John Trundle, Chief Executive Officer of Euroclear UK & Ireland. Nikhil is also a member of the FCA Practitioner Panel.

Welcoming the appointments, FCA Chair Charles Randell said:

'Both Tulsi and Nikhil have served on the Panels for a number of years and are well placed to lead the Panels in supporting the FCA to be a targeted and effective regulator. The work of the Panels has never been more important, given the extent of the changes in our world, including Brexit. I look forward to the robust but constructive challenge they will provide, and to working with them both in their new roles.

'I would also like to thank Anne and John for their significant contribution to the work of the Panels as both members and Chairs.'

The FCA Practitioner Panels are independent statutory bodies that represent the interests of the financial services industry within the UK’s regulatory framework. Panel members are recruited to represent both their own sector and the industry as a whole, rather than individual firms.

Notes to editors

The FCA Practitioner Panels are part of the system that the FCA set up to make and maintain effective arrangements for consulting practitioners on the extent to which its general policies and practices are consistent with its general duties, as set out in the Financial Services and Markets Act 2000 (as amended).

Appointments of the Chairs of the Statutory Panels are agreed by the FCA Board and approved by HM Treasury.

Tulsi Naidu has been Chief Executive of Zurich in the U.K. since November 2016. She previously held a number of senior positions at Prudential’s U.K. & Europe Life business. She has been a member of the Practitioner Panel since 2017.

Anne Richards joined Fidelity International as Chief Executive Officer in December 2018 from M&G Investments where she was CEO and a director of its parent company Prudential plc. She was appointed Chair of the FCA Practitioner Panel on 1 August 2017 and has been a member since 2013.

Nikhil Rathi has been Chief Executive Officer of London Stock Exchange plc since September 2015. He also has Group-wide responsibility for International Development. Previously he held a number of senior civil service positions in the UK Government over an eleven-year period.

John Trundle has been Chief Executive Officer of Euroclear UK & Ireland since 2012. He was appointed Chair of the FCA Markets Practitioner Panel in 2015 and has been a member since 2013.

On 1 April 2013, the FCA became responsible for the conduct supervision of all regulated financial firms and the prudential supervision of those not supervised by the Prudential Regulation Authority (PRA). On 1 April 2014, the FCA took over responsibility for consumer credit regulation.

The FCA has an overarching strategic objective of ensuring the relevant markets function well. To support this it has three operational objectives: to secure an appropriate degree of protection for consumers; to protect and enhance the integrity of the UK financial system; and to promote effective competition in the interests of consumers.